Name and Location
Kibali gold mine.

Location
Orientale province, Democratic Republic of Congo (DRC).

Client
The Kibali joint venture comprises Randgold Resources (45%), AngloGold Ashanti (45%) and DRC State-owned mining company Société des Mines d’Or de Kilo-Moto (10%).

Randgold is the developer and operator of the mine.

Project Description
Kibali ranks as one of the largest gold mines in Africa. It has a reserve base estimated at 11.6-million ounces and it continues to grow.

The mine comprises an integrated openpit and underground operation, as well as a 7.2-million-tonne-a-year processing plant.

Production from the project’s openpit started in September 2013.

The underground mine includes a twin decline and single-shaft vertical system, and four hydropower stations supported by a thermal power station for low rainfall periods and as back-up.

Jobs To Be Created
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Value
The project represents an investment of more than $2.5-billion by the project partners.

Duration
Production from the openpit started in September 2013.

The vertical shaft system is expected to be handed over in 2017. 

Latest Developments
The two remaining components of Randgold Resources’ Kibali gold mine – its underground shaft system and a third hydropower plant – are both on track.

The underground shaft system is expected to be commissioned this quarter, with the underground mine to produce about 2.2-million tonnes of ore this year.

A third hydropower station Azambi is expected to be commissioned in 2018. It, along with the Nzoro II and the Ambarau hydropower stations, will contribute to reducing power costs at the mine.

CEO Dr Mark Bristow has said that while the Kibali mine is working towards delivering the underground mine, it is also maintaining a steady operational performance and is well positioned to meet its production target of 610 000 oz of gold this year on the back of better grades forecast from the underground ramp-up, particularly in the fourth quarter.

Ongoing brownfield exploration is also showing potential to add resources and reserves going forward.

Key Contracts and Suppliers
Byrnecut (underground development); Shaft Sinkers (vertical shaft development); DTP (openpit mining) and DRA (metallurgical facility design and engineering, procurement and construction management).

On Budget and on Time?
The Kibali openpit was successfully commissioned ahead of schedule and within budget on September 24, 2013.

Contact Details for Project Information
Randgold Resources, tel +44 20 7557 7738 or email randgold@dpapr.com.